New initiatives aimed at reducing cost of doing business in Dubai and ensuring a favourable regulatory environment for companies

The Dubai Chamber of Commerce and Industry has unveiled two new initiatives to support Dubai’s new economic stimulus plans in line with the directives of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Among the new initiatives launched by the Chamber are plans to coordinate with other government entities to review services and fees with the aim of reducing the cost of doing business in the emirate.

In addition, an advisory board has been established by the Chamber to boost the contribution of global companies in shaping the regulatory landscape. The council, represented by selected multinational corporations and Fortune 500 companies, will represent business interests, strengthen investor confidence and play a key role in developing the local economy.

For his part, H.E. Hamad Buamim, President and CEO of Dubai Chamber, lauded the pro-active approach taken by Dubai’s government reflected in the recent launch of the emirate’s economic stimulus plans, which he says will support the growth of the Dubai’s economy and address challenges facing businesses in the emirate.

He described the two new Chamber-led initiatives as prime examples of close cooperation between Dubai’s public and private sectors which stand to enhance competitiveness of the economy, boost Dubai’s appeal as a preferred investment market and help the emirate achieve its strategic goals.

Dubai Chamber’s President and CEO said he expects the new initiatives to significantly boost investor confidence in the Dubai market and elevate the emirate’s status as a global business hub, adding that the measures would greatly support Dubai Chamber’s mission of protecting the interests of business community in Dubai.